Abstract
Finland was the only developed market economy to trade with the USSR on a bilateral clearing basis and the one for which Soviet trade was most important. In 1991, clearing in Finnish-Soviet trade was abolished and trade level collapsed, contributing to the exceptionally severe Finnish economic crisis. It is widely believed that exporting to the USSR was microeconomically exceptionally profitable. The evidence for this, however, is fragmentary. The structural effects of this trade are also less than selfevident. The article also discusses the possible lessons of past Finnish-Soviet trade for future trade arrangements between former Soviet republics.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Alho,K.et al., (1986),Neuvostoliiton-Kauppa Suomen Kansantaloudessa[“Sivuet-trade in the Finnish economy73”],Helsinki.
Csaba, L., (1990), Eastern Europe in the World Economy, Cambridge
ECE/UN (1991), Economic Bulletin for Europe, vol. 43.
Hellvin, L., and Torstensson, J., (1991), Factor Proportions in East-West Trade: The Case of Finland and Sweden, Weltwirtschaftliches Archiv 3, pp. 380–389.
Hukkinen, J., (1990), “Suomen vientimenestys Neuvostoliiton markkinoilla 1970–1986” [Finnish export performance in the Soviet market, 19701986], Suomen Pankin Keskustelualoitteita [Bank of Finland Discussion Papers], 14/1990.
Kajaste, I., (1992), “Soviet Trade and the Finnish Economy”, Ministry of Finance, Economics Department, Discussion Paper No. 33, Helsinki, February 1992.
Kajaste, I., and Mattila, A., (1988), “Korvaako länsivienti itäviennin supistumisen?”[Is the decline in exports to the East compensated for by exports to the West?], in Valtiovarainministeriö, Kansantalousosasto, Keskustelualoitteita [Finnish Ministry of Finance, Department of Economics, Discussion Papers], 18/1988.
Keskinen, T., (1987), Idänkauppa 1944–1987 [Eastern Trade in 1944–1987], Helsinki 1987.
Kivikari, U., (1985), “Finnish-Soviet trade in the light industry”, in: WIIW Forschungsberichte, 109 /1985, pp. 25–100.
Kivilahti, T., and Rautava, J., (1990), “New Framework for Trade between Finland and the Soviet Union”, Bank of Finland Bulletin, 12 /1990, pp. 2–6.
Möttölä,K. et al.,eds.,(1983),Fubbush-Soviet Economic Relations,London and Basingstoke.
Koivumaa, K., and Valtonen, T., (1990), Suomen Neuvostoliiton kauppa ja muuttuva ympäristö [Finnish Trade with the Soviet Union and changing Environment], Helsinki 1990.
Oblath, G., and Pete, P., (1990), “Mechanism and Institutional System of the Finnish-Soviet Economic Relations”, in Friedländer, ed.: Foreign Trade in Eastern Europe and in The Soviet Union, Boulder.
Oksanen, H., (1984), “The rouble in Soviet-Finnish trade”, Kansallis-OsakePankki, Economic Review 1984: 2, pp. 11–18.
Pekkarinen, J., and Pohjola, M., and Rowthorn, B. eds., (1992), Social Corporatism: A Superior Economic System?, Oxford 1992.
Rautava, J., (1988), “Neuvostoliiton-kaupan luototus keskuspankin näkökulmasta” [“Financing trade with the USSR: A Central Bank Perspective”], Helsinki 1988 (unpublished).
Rautava, J., and Hukkinen, J., (1992), “Russia’s economic reform and trade between Finland and Russia”, Bank of Finland Monthly Bulletin 4 /1992, pp. 3–9.
Sutela, P., (1991a), “Trading with the Soviet Union: Some Microeconomic Aspects for Finland”, Osteuropa-Wirtschaft 4 /1991, pp. 301–315.
Sutela, P., (1991b), “Sovjetunionens ekonomi och handel ed Finland (kommentarinlägg vid Ekonomiska Samfundets möte 29.4.1991)” [“Soviet economic prospects and trade with Finland (a comment at the meeting of the Swedish Economic Association on 29 April 1991)], Ekonomiska Samfundets Tidskrift 4/1991, pp. 201–206.
Sutela, P., (1993), “Clearing, Prices and Money”, Russian and East European Finance and Trade, Winter 1992–1993, pp. 3–29.
Tolonen, Y., (1985), “Effects of Soviet Trade on the Structure of Finnish Export Industries”, in: WHWForschungsberichte, 109 /1985, pp. 101–125.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 1994 Springer Science+Business Media Dordrecht
About this chapter
Cite this chapter
Sutela, P. (1994). Clearing, Specialisation and Money: The Finnish Perspective on Trading with the USSR. In: Lombardini, S., Padoan, P.C. (eds) Europe between East and South. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-0994-9_6
Download citation
DOI: https://doi.org/10.1007/978-94-011-0994-9_6
Publisher Name: Springer, Dordrecht
Print ISBN: 978-94-010-4431-8
Online ISBN: 978-94-011-0994-9
eBook Packages: Springer Book Archive